GBPUSD on Monday rose 0.61% to 1.22118. Pair in consolidation. What we know.
|Performance after Monday|
|Week to-date||0.61%||74 Pips|
Upcoming key events (London Time)
Tue 07:00 AM GBP Employment Change
Tue 01:30 PM USD Monthly Retail Trade (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in October below forecast and dropped to -4.6 points compared to previous figure 1.9 points in September
What can we expect from GBPUSD today?
GBPUSD on Monday rose 0.61% to 1.22118. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.21629 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.22194 or trades above daily pivot 1.21912. Break above could target R1 at 1.224. While to the downside, we are looking at 1.21629 (S1) and daily low of 1.21423 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.22194 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
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